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Home My WebLink About71515 CRC Financial Packet CARMEL REDEVELOPMENT COMMISSION Financial Information Packet For the Month Ending June 30, 2015 Carmel Redevelopment Commission Financial Packet Table of Contents Schedule Section Schedule 1-Annual Budget Summary Update 1 Revenue Budget Analysis 1A Expenditure Budget Analysis 1B Summary of Cash and Cash Rights 1C Fund Balances and Outstanding Receivables 1D Schedule 2-Debt Summary 2 Additional Information 2A Developer Bonds 2B Appendix A-Analysis of TIF Collections Analysis of Actual Spring and Estimated Fall 2015 TIF Collections A-1 Analysis of June 2015 TIF Collections and Disbursements A-2 Carmel Redevelopment Commission Annual Budget Summary Update as of 6/30/15 Reference A B C D E F G Reference 1 Actual Actual PROJECTED 1 2 May June July Total %Complete 2015 Budget 2 3 Projections 3 4 BEGINNING BALANCE WITHOUT RESTRICTED FUNDS $5,053,487 $5,104,828 $11,548,572 4 5 5 6 RECEIPTS-TIF 6 7 Interest 29 7 8 Restricted TIF Revenue 8 9 Parkwood TIF 1,100,060 1,954,580 1,927,820 9 10 Unrestricted TIF Revenue 10 11 Increment Net of Developer Pass Through _ 0 9,897,168 (682,403) 17,076,430 55% 18,029,910 11 12 Total TIF 0 10,997,229 (682,403) 19,031,010 55% 19,957,730 12 13 13 14 Less Transfers to Reserves 14 _ 15 Transfer to Supplemental Reserve Fund-Parkwood TIF 0 1,100,060 - 1,954,580 1,927,820 15 16 Transfer to Supplemental Reserve Fund-Excess TIF per RDA 157,817 157,817 0 16 17 Total Transfers to Reserves 0 1,100,060 157,817 2,112,397 1,927,820 17 18 18 19 Less Debt Service 19 20 Certificates of Participation,Series 2010C 0 0 682,113 1,363,619 0% 1,363,619 20 21 Illinois Street Bond 0 0 458,324 913,169 0% 913,169 21 22 2013 Illinois Street Bond 0 0 110,013 220,025 0% 220,025 22 23 2005 and 2014 PAC Lease 0 2,826,500 5,653,000 50% 5,653,000 23 24 2012 Lease 0 0 4,980,000 9,962,000 0% 9,962,000 24 25 Total Debt Service _ 0 2,826,500 6,230,449 18,111,813 16% 18,111,813 25 26 26 27 TOTAL RECEIPTS-TIF 0 7,070,668 (7,070,668) (1,193,171) -8645% (81,903)1 27 L8 L8 29 RECEIPTS-NON TIF 29 30 Interest 2,896 30 31 Energy Consumption Payments 26,922 26,922 26,922 323,060 50% 323,060 31 32 REI Energy Payments(2015) 0 20,923 10,462 125,538 67% 125,538 32 33 4CDC Grants 0 74,224 400,000 36% 400,000 33 34 Civic Rent 0 0 250,000 0% 250,000 34 35 Keystone Group,LLC Receivable(Bond Enhancement)2014 190,092 0 190,092 0% 0 35 36 Keystone Group,LLC Receivable(Bond Enhancement)2015 0 0 185,094 0% 200,000 36 37 Sale of Real Property 0 0 1,722,000 0% 37 38 Miscellaneous Receipts 0 47,133 218,425 0% 0 38 39 TOTAL RECEIPTS-NON TIF 217,014 169,201 37,383 3,417,105 50% 1,298,598 39 40 TOTAL RECEIPTS 217,014 7,239,870 (7,033,285) 2,223,934 1,216,695 I 40 41 4L AI aI. 43 EXPENDITURES 43 44 Project Professional Fees 44 45 Legal Fees 27,643 4,055 555 362,000 28% 588,000 45 46 Architecture/Engineering Fees 0 0 38,742 75,700 0% 10,000 46 47 City Center Design Soft Costs 0 0 2,000 331,300 0% 0 47 48 Accounting Fees _ 700 5,750 31,450 52% 31,450 48 49 Miscellaneous Professional Fees 0 0 30,000 1% 30,000 49 50 Construction 50 51 Mezz Building Site Construction 107,337 0 334,306 32% 334,306 51 52 Mezz Utility Relocation _ 0 0 250,000 0% 250,000 52 S3 Nash Streetscape 29,993 0 2,188 48,335 62% 48,335 53 54 Capital Improvement Projects 0 304,860 2,760,587 30% 1,000,000 54 _ 55 Bond and Trustee Fees 0 1,750 22,922 12% 22,922 55 56 Village Financial Secondary IPC 0 0 37,474 138,789 77% 79,954 56 57 2006 COIT Refunding Bond 0 479,711 959,243 50% 959,243 57 58 Reimbursement of Actual Expenditures for Redevelopment Department 0 0 566,517 8% 524,665 58 59 Sophia Square Garage Expenses 0 0 300,000 0% 300,000 59 60 Miscellaneous Expenditures 0 0 10,000 9% 10,000 60 61 TOTAL EXPENDITURES _ 165,673 796,125 6,221,148 29% 4,188,875 61 62 TRANSFERS FROM RESTRICTED FUNDS _ 62 63 Transfer from Energy Center Consumption Reserve _ 0 0% 0 63 64 Transfer from Civic Rent Reserve 0 0% 0 64 65 Total Transfers From Restricted Funds 0 0 0 65 66 66 68 ENDING BALANCE WITHOUT RESTRICTED FUNDS $5,104,828 $11,548,572 $4,434,328 $1,033,255 2,146,190 1 681 69 RESTRICTED FUNDS 69 70 Energy Center Consumption Reserve Beginning Balance 502,055 502,055 502,055 501,760 100% 500,000 70 71 Civic Rent Reserve Beginning Balance 802,341 802,341 802,341 801,870 100% 800,000 71 72 Supplemental Reserve Fund Beginning Balance 2,527,918 2,527,918 3,627,978 2,526,433 100% 2,526,168 72 73 RESTRICTED FUNDS BEGINNING BALANCE 3,832,314 3,832,314 4,932,375 3,830,063 3,826,168 73 /4 /4 75 TRANSFERS IN/(OUT)OF RESERVES 75 76 Energy Center Consumption Reserve Transfers In/(Out) 295 0% 0 76 77 Civic Rent Reserve Transfers In/(Out) 471 0% 0 77 78 Supplemental Reserve Fund Transfers In/(Out) 1,100,060 157,817 2,113,882 57% 1,927,820 78 79 TOTAL RESERVE FUNDS TRANSFERS - 1,100,060 157,817 2,114,6491 57% 1,927,8201 79 Imo•,., 81 ENDING BALANCE FOR RESTRICTED FUNDS 3,832,314 4,932,375 5,090,192 5,944,711 5,753,988 81 1 82 I ENDING BALANCE WITH RESTRICTED FUNDS I $8,937,142 $16,480,947 $9,524,520 I $6,977,966 I I $7,900,178 I 82 -1- Carmel Redevelopment Commission Month and Year to Date Revenue Budget Analysis For the Month Ending June 30,2015 Reference A B C D E F G H I Reference 1 1 2 Current Month Comments Current Year Budget 2 %YTD 3 Budget Actual $Variance Proposed YTD $Remaining Recognized 3 4 RECEIPTS-TIF 4 5 Interest $0 $0 $0 $0 $28 ($28) 0.00% 5 6 Restricted TIF Revenue 6 7 Parkwood TIF 1,100,060 1,100,060 0 1,927,820 1,100,060 827,760 57.06% 7 8 Unrestricted TIF Revenue 8 Difference is developer pass-through 9 TIF Revenue,Net of Developer Pass Through 9,209,583 9,897,168 687,585 payments,which were made in July 18,029,910 9,907,076 8,122,834 54.95% 9 10 Total TIF 10,309,643 10,997,228 687,585 19,957,730 11,007,136 8,950,594 55.15% 10 11 11 12 Less Transfers to Reserves 12 13 Transfer to Supplemental Reserve Fund-Parkwood TIF 1,100,060 1,100,060 0 1,927,820 1,100,060 827,760 57.06% 13 14 Transfer to Supplemental Reserve Fund-Excess TIF per RDA 152,634 0 (152,634)Transfer will be made in July 0 0 0 0.00% 14 15 Total Transfers to Reserves 1,252,694 1,100,060 (152,634) 1,927,820 1,100,060 827,760 57.06% 15 16 16 17 Less Debt Service 17 18 COPS,Series 2010 C(Energy Center) 0 0 0 1,363,619 0 1,363,619 0.00% 18 19 Illinois Street Bond 0 0 0 913,169 0 913,169 0.00% 19 20 2014 Illinois Street Bond 0 0 0 220,025 0 220,025 0.00% 20 21 2015 PAC Lease 2,826,500 2,826,500 0 5,653,000 2,826,500 2,826,500 50.00% 21 22 2013 Lease 0 0 0 9,962,000 0 9,962,000 0.00% 22 23 Total Debt Service 2,826,500 2,826,500 0 18,111,813 2,826,500 15,285,313 15.61% 23 24 24 25 TOTAL RECEIPTS-TIF 25,951,174I 27,021,076 1,069,902 (81,903) 7,080,604 (7,162,507) -8645.11% 25 26 26 27 RECEIPTS-NON TIF 27 28 Interest 0 0 0 0 2,896 (2,896) 0.00% 28 29 Energy Payments 26,922 26,922 0 323,060 161,532 161,528 50.00% 29 Both May and June payments were 30 REI Energy Payments(2015) 10,462 20,923 10,461 received in June 125,538 83,692 41,846 66.67% 30 Difference will be taken out of next 31 4CDC Grants 69,940 74,224 4,284 payment 400,000 145,364 254,636 36.34% 31 32 Civic Rent 0 0 0 250,000 0 250,000 0.00% 32 33 Keystone Group,LLC Receivable(Bond Enhancement)2014 0 0 0 0 190,092 (190,092) 0.00% 33 34 Keystone Group,LLC Receivable(Bond Enhancement)2015 0 0 0 200,000 0 200,000 0.00% 34 35 Sale of Property 0 0 0 0 0 0 0.00% 35 36 Miscellaneous Receipts 0 47,133 47,133 Difference is Nash PIATT payment 0 63,096 (63,096) 0.00% 36 37 TOTAL RECEIPTS-NON TIF 107,324 169,202 61,878 1,298,598 646,672 651,926 49.80% 37 38 TOTAL RECEIPTS $26,058,498 $27,190,278 $1,131,780 $1,216,695 $7,727,277 ($6,510,582) 38 39 39 -1A- Carmel Redevelopment Commission Month and Year to Date Expenditure Budget Analysis For the Month Ending June 30,2015 Reference A B C D E F G H I Reference 1 1 2 Current Month Comments Current Year Budget 2 3 Budget Actual $Variance Proposed YTD $Remaining %YTD 3 4 EXPENDITURES 4 5 Project Professional Fees 5 6 Legal Fees 4,055 4,055 0 588,000 163,923 424,077 27.88% 6 7 Arch/Engineering 0 0 0 10,000 0 10,000 0.00% 7 8 Accounting Fees 5,750 5,750 0 31,450 16,383 15,067 52.09% 8 9 Miscellaneous Professional Fees 0 0 0 30,000 175 29,825 0.58% 9 10 Construction 10 11 Mezz Building Site Construction 0 0 1 0 334,306 107,337 226,969 32.11% 11 12 Mezz Utility Relocation 0 0 0 250,000 0 250,000 0.00% 12 13 Nash Streetscape 0 0 0 48,335 29,993 18,342 62.05% 13 Difference is payment for Reflecting Pool repairs,which was not anticipated to be paid 14 Capital Improvement Projects 0 304,860 (304,860) until July 1,000,000 304,860 695,140 30.49% 14 15 Bond and Trustee Fees 1,750 1,750 0 22,922 2,700 20,222 11.78% 15 16 Village Financial Secondary IPC 0 0 0 79,954 61,337 18,617 76.72% 16 17 2005 COIT Refunding Bond 479,711 479,711 0 959,243 479,711 479,532 50.01% 17 18 Reimbursement of Actual Expenditures for Dep. 0 0 0 524,665 41,852 482,813 7.98% 18 19 Sophia Square Garage Expenses 0 0 0 300,000 0 300,000 0.00% 19 20 Miscellaneous Expenditures _ 0 0 0 10,000 902 9,098 9.02% 20 21 TOTAL EXPENDITURES $491,266 $796,126 ($304,860) $4,188,875 $1,209,173 2,979,702 28.87% 21 -1B- Carmel Redevelopment Commission Summary of Cash For the Month Ending June 30, 2015 Reference A B C D Reference 1 1 2 Description Actual Budget _ Variance 2 3 Cash Balance 6/1/15 3 4 1101 Cash $ 5,055,724.68 $ 5,055,724.68 $ - 4 5 1110 TIF 49,103.18 49,103.18 - 5 6 Total Cash $ 5,104,827.86 $ 5,104,827.86 $ - 6 7 7, 8 Receipts _ 8 9 1101 Cash $ 169,201.42 $ 107,323.14 $ 61,878.28 9 10 1110 TIF 10,997,228.50 10,997,228.50 - 10 11 Developer Payments - (687,585.40) 687,585.40 11 12 Transfer to SRF (1,100,060.36) (1,252,694.35) 152,633.99 12 13 Total Receipts $ 10,066,369.56 $ 9,164,271.89 $ 749,463.68 13 14 _ 14 15 Disbursements 15 16 1101 Cash $ 316,414.50 $ 11,554.50 $ (304,860.00) 16 17 1110 TIF 3,306,210.75 3,306,210.75 - 17 18 Total Disbursements $ 3,622,625.25 $ 3,317,765.25 $ (304,860.00) 18 19 19 20 1101 Cash $ 4,908,511.60 $ 5,151,493.32 $ (242,981.72) 20 21 1110 TIF 6,640,060.57 5,799,841.18 840,219.39 21 22 Cash Balance 6/30/15 $ 11,548,572.17 $ 10,951,334.50 $ 597,237.67 22 23 23 24 Total Usable Funds $11,548,572.17 $10,951,334.50 $597,237.67 24 $14,000,000.00 $12,000,000.00 $10,000,000.00 $8,000,000.00 •Actual •Budget $6,000,000.00 •Variance $4,000,000.00 - $2,000,000.00 $0.00 -1C- Carmel Redevelopment Commission Fund Balances and Outstanding Receivables as of 6/30/15 Fund Balances Restricted Funds Energy Center Reserve $502,055 Civic Rent Reserve 802,341 Supplemental Reserve Fund 3,627,978 Sub-total: 4,932,374 Unrestricted Funds TIF 6,640,061 Non TIF 4,908,512 Sub-total: 11,548,572 Total Funds $16,480,946 Outstanding Receivables Outstanding Receivables Reimbursement of City Center Phase II invoices (1) 141,374 Reimbursement of Project Blue invoices (2) 13,955 Total Outstanding Receivables $155,329 (1)Amount due is 50% of professional service invoices paid to date by the CRC for the City Center Phase II project as agreed to by Pedcor (2)Amounts due are the professional service invoices paid to date by the CRC in regards to the potential Project Blue development as per the reimbursement agreement with 4148 96th Street LLC -1D- Carmel Redevelopment Commission Debt Summary For the Year Ending December 31,2015 Reference A B C D I E F G H I J K Reference 7/1/15 Revenue Original Outstanding 2015 2015 Total First Second Issuance Type Source Debt Amount Interest Rate Par Amount Principal Due(1) Interest Due(1) Debt Service Installment Installment 1 Tax Increment Revenue Bonds,Series 2004 A(Illinois Street) Bond TIF $9,500,000 6.650% $6,115,000 $515,000 $398,169 $913,169 $458,324 $454,845 1 2 COIT Revenue Refunding Bonds,Series 2006 Bond TIF 8,785,000 5.250-5.270% 3,030,000 790,000 169,243 959,243 479,711 479,532 2 3 Lease Rental Revenue Bonds,Series 2005(PAC CAB) Lease TIF 27,798,227 4.625-10.200% 18,065,542 1,627,515 1,832,485 3,460,000 1,730,000 1,730,000 3 4 Lease Rental Revenue Bonds,Series 2012 A Lease TIF 115,900,000 2.625-4.000% 115,900,000 0 4,392,582 4,392,582 2,196,291 2,196,291 4 5 Lease Rental Revenue Bonds,Series 2012 B Lease TIF 69,245,000 0.608-3.000% 64,765,000 4,230,000 1,328,057 5,558,057 2,778,317 2,779,740 5 6 Redevelopment District Bonds of 2013(Illinois Street) Bond TIF 6,535,000 2.000-4.000% 6,535,000 0 220,025 220,025 110,013 110,013 6 7 Lease Rental Revenue Refunding Bonds,Series 2014(PAC) Lease TIF 55,685,000 2.250-5.000% 55,685,000 0 2,187,956 2,187,956 1,093,978 1,093,978 7 Sub Totals $293,448,227 $270,095,542 $7,162,515 $8,340,560 $15,503,075 $8,846,633 $8,844,398 I 7/1/15 Revenue Original Outstanding 2015 2015 Total Certificate of Participation(COP)or Installment Contract Type Source Debt Amount Interest Rate Amount Principal Due(1) Interest Due(1) Fees(2) Debt Service Reference 8 Certificate of Participation,Series 2010 C(Energy Center) COP TIF 16,300,000 5.750-6.500% 15,400,000 395,000 968,619 31,587 1,395,206 8 Installment 9 Secondary Village Financial Contract 1-CCC LLC(3) Contract TIF 4,500,000 LIBOR+2.8% 4,500,000 0 157,500 157,500 9 Sub Totals $20,800,000 $19,900,000 $395,000 $1,126,119 $31,587 $1,552,706 Grand Total $314,248,227 $289,995,542 $7,557,515 $9,466,679 $31,587 $19,243,737 (1)Total debt service amount is per amortization schedules of Issuance (2)Represent Administrative fees paid on each contract. (3)Interest amounts are estimates since the interest rate accounts for LIBOR. -2- Ca r m e l Re d e v e l o p m e n t Co m m i s s i o n De b t Su m m a r y ‐ Ad d i t i o n a l In f o r m a t i o n Fo r th e Ye a r En d i n g De c e m b e r 31 , 20 1 5 Re f e r e n c e A B C D E F R e f e r e n c e Fi n a l Is s u a n c e Ye a r Is s u e d 1s t Ca l l M a t u r i t y Pa y m e n t Da t e s P u r p o s e of Is s u a n c e 1 T a x In c r e m e n t Re v e n u e Bo n d s , Se r i e s 20 0 4 A (I l l i n o i s St r e e t ) 20 0 4 7 / 1 5 / 2 0 1 4 7 / 1 5 / 2 0 2 4 7 / 1 5 / 1 5 , 1/ 1 5 / 1 6 To fi n a n c e ro a d an d in t e r s e c t i o n im p r o v e m e n t s 1 2 C O I T Re v e n u e Re f u n d i n g Bo n d s , Se r i e s 20 0 6 2 0 0 6 1 2 / 1 5 / 2 0 1 2 1 2 / 1 5 / 2 0 1 8 6 / 1 5 / 1 5 , 12 / 1 5 / 1 5 To re f u n d CO I T Re v e n u e Bo n d s of 19 9 8 , which were originally issued fo r th e ac q u i s i t i o n an d re d e v e l o p m e n t of property in the City Center Re d e v e l o p m e n t Ar e a 2 3 Le a s e Re n t a l Re v e n u e Bo n d s , Se r i e s 20 0 5 (P A C CA B ) 20 0 5 2 / 1 / 2 0 1 1 2 / 1 / 2 0 3 3 7 / 1 / 1 5 , 1/ 1 / 1 6 To fi n a n c e th e de s i g n an d co n s t r u c t i o n of a new performing arts center co m p l e x 3 4 Le a s e Re n t a l Re v e n u e Bo n d s , Se r i e s 20 1 2 A (R e f i n a n c e ) 20 1 2 8 / 1 / 2 0 2 6 2 / 1 / 2 0 3 8 7 / 1 / 1 5 , 1/ 1 / 1 6 To co n s o l i d a t e an d re f i n a n c e a ma j o r i t y of CRC debt at a lower interest ra t e 4 5 Le a s e Re n t a l Re v e n u e Bo n d s , Se r i e s 20 1 2 B (R e f i n a n c e ) 20 1 2 2 / 1 / 2 0 1 4 2 / 1 / 2 0 2 5 7 / 1 / 1 5 , 1/ 1 / 1 6 To co n s o l i d a t e an d re f i n a n c e a ma j o r i t y of CRC debt at a lower interest ra t e 5 6 R e d e v e l o p m e n t Di s t r i c t Bo n d s of 20 1 3 (I l l i n o i s St r e e t ) 20 1 3 7 / 1 5 / 2 0 2 4 1 / 1 5 / 2 0 3 5 7 / 1 5 / 1 5 , 1/ 1 / 1 6 To fi n a n c e va r i o u s im p r o v e m e n t s to Il l i n o i s Stree t 6 7 Le a s e Re n t a l Re v e n u e Re f u n d i n g Bo n d s , Se r i e s 20 1 4 (P A C ) 20 1 4 2 / 1 / 2 0 2 4 2 / 1 / 2 0 3 3 7 / 1 / 1 5 , 1/ 1 / 1 6 To ad v a n c e re f u n d th e ou t s t a n d i n g PA C Capital Interest Bonds, which we r e us e d to co n s t r u c t th e PA C 7 Fi n a l Is s u a n c e Ye a r Is s u e d 1s t Ca l l M a t u r i t y Pa y m e n t Da t e s P u r p o s e of Is s u a n c e 8 C e r t i f i c a t e of Pa r t i c i p a t i o n , Se r i e s 20 1 0 C (E n e r g y Ce n t e r ) 20 1 0 7 / 1 5 / 2 0 2 2 7 / 1 5 / 2 0 3 5 7 / 1 5 / 1 5 , 1/ 1 5 / 1 6 To Pr o v i d e fo r th e de v e l o p m e n t an d co n s t r u c t i o n of a portion of the re g i o n a l pe r f o r m i n g ar t s ce n t e r 8 9 S e c o n d a r y Vi l l a g e Fi n a n c i a l Co n t r a c t 1 ‐ CC C LL C 20 1 1 N / A 7 / 1 5 / 2 0 3 4 7 / 1 5 / 1 5 , 1/ 1 5 / 1 6 To ac q u i r e ex i s t i n g im p r o v e m e n t s fo r th e City Center garage 9 Bo n d Ad d i t i o n a l In f o r m a t i o n Ce r t i f i c a t e of Pa r t i c i p a t i o n an d In s t a l l m e n t Co n t r a c t s ‐ Ad d i t i o n a l In f o r m a t i o n ‐2A ‐ Ca r m e l Re d e v e l o p m e n t Co m m i s s i o n De v e l o p e r Bo n d s (I n f o r m a t i o n a l Pu r p o s e s On l y ) As of Ju l y 1, 20 1 5 Re f e r e n c e AB C D E F G Reference 1 Is s u a n c e (1 ) TI F Ar e a (2 ) Or i g i n a l Is s u a n c e Am o u n t Ou t s t a n d i n g Ba l a n c e M a t u r i t y De c e m b e r 2014 Co l l e c t i o n s (2)June 2015 Collections (2)1 2 Ta x a b l e Ec o n o m i c De v e l o p m e n t Re v e n u e Bo n d s , Se r i e s 20 0 6 B (B u c k i n g h a m ‐ Gr a m e r c y Pr o j e c t ) (3 ) Gr a m e r c y 20 , 0 0 0 , 0 0 0 0 2 0 2 7 4 4 2 3 Ta x a b l e Ec o n o m i c De v e l o p m e n t Re v e n u e Bo n d s of 20 1 1 (1 1 6 t h St r e e t Ce n t r e Pr o j e c t ) 11 6 t h St . Ce n t r e 2 , 0 5 0 , 0 0 0 1 , 9 4 3 , 9 8 3 2 0 3 6 1 3 3 , 1 0 5 1 2 9 , 4 9 8 3 4 Ta x a b l e Ec o n o m i c De v e l o p m e n t Re v e n u e Bo n d s of 20 1 1 (I n d i a n a Sp i n e Gr o u p Pr o j e c t ) (4 ) Me r i d i a n an d Ma i n 75 1 , 5 0 0 7 1 7 , 5 0 0 2 0 3 1 7 4 , 8 5 7 7 0 , 2 3 4 4 5 Se n i o r Ec o n o m i c De v e l o p m e n t Re v e n u e Bo n d s , Se r i e s 20 1 1 A Ar t s Di s t r i c t Lo f t s & Sh o p p e s 9, 6 3 0 , 0 0 0 8, 8 9 5 , 0 0 0 20 3 1 4 3 3 , 3 9 3 4 2 3 , 1 5 0 5 6 Su b o r d i n a t e Ec o n o m i c De v e l o p m e n t Re v e n u e Bo n d s , Se r i e s 20 1 1 B (5 ) (A r t s Di s t r i c t Lo f t s & Sh o p p e s Pr o j e c t ) Ar t s Di s t r i c t Lo f t s & Sh o p p e s 0 0 2 0 3 5 0 0 6 7 Ta x a b l e Ec o n o m i c De v e l o p m e n t Re v e n u e Bo n d s , Se r i e s 20 1 3 A (L e g a c y ) Le g a c y 4 , 5 0 0 , 0 0 0 4, 5 0 0 , 0 0 0 20 3 5 2 1 1 , 6 2 5 2 0 7 , 8 1 2 7 8 To t a l $3 6 , 9 3 1 , 5 0 0 $1 6 , 0 5 6 , 4 8 3 $852,98 4 $830,69 7 8 9 9 10 10 11 11 12 12 13 13 14 14 15 15 16 (3 ) Th e Bo n d s we r e is s u e d as dr a w bo n d s . Th e am o u n t sh o w n re p r e s e n t s th e am o u n t of pr i n c i p a l dr a w n do w n an d ou t s t a n d i n g pe r th e Tr u s t e e . 16 17 17 18 (4 ) Th e De c e m b e r co l l e c t i o n s in c l u d e Sp r i n g ta x e s th a t we r e pa i d la t e . 18 19 19 20 (5 ) Th e Bo n d s we r e is s u e d as dr a w bo n d s . Th e am o u n t sh o w n re p r e s e n t s th e am o u n t of pr i n c i p a l dr a w n do w n an d ou t s t a n d i n g pe r th e of f i c i a l dr a w s sc h e d u l e d in th e Is s u a n c e Of f e r i n g Do c u m e n t s . 20 21 21 (1 ) Th e CR C Pa y a b l e po r t i o n of th e de b t se r v i c e is li m i t e d up to th e to t a l in c r e m e n t a l re v e n u e s of th e de s i g n a t e d TI F ar e a . An y de b t se r v i c e in ex c e s s of th e in c r e m e n t re v e n u e s is li a b l e to th e de v e l o p e r (w i t h th e ex c e p t i o n of the Ar t s Di s t r i c t Lo f t s & Sh o p p e s Bo n d s ) . Th e to t a l ou t s t a n d i n g pr i n c i p a l am o u n t s se e n ab o v e do no t re f l e c t a di r e c t ob l i g a t i o n to th e Ca r m e l Re d e v e l o p m e n t Co m m i s s i o n . (2 ) Al l co l l e c t i o n s ar e al l o c a t e d to th e de v e l o p e r pa y m e n t s wi t h th e ex c e p t i o n of th e Ta x a b l e Ec o n o m i c De v e l o p m e n t Re v e n u e Bo n d s of 20 1 1 (I n d i a n a Sp r i n e Gr o u p ) ‐ on l y 50 % of th e to t a l of th e in c r e m e n t ge n e r a t e d is pledged to w a r d s pa y m e n t of th e bo n d s , an d th e Ta x a b l e Ec o n o m i c De v e l o p m e n t Re v e n u e Bo n d s of 20 1 1 (1 1 6 t h St r e e t Ce n t r e ) ‐ th e le s s e r of th e am o u n t ne e d e d to ma k e th e cu r r e n t de b t se r v i c e pa y m e n t or th e am o u n t of the collections. ‐2B ‐ Ca r m e l Re d e v e l o p m e n t Co m m i s s i o n An a l y s i s of Ac t u a l Sp r i n g an d Es t i m a t e d Fa l l 20 1 5 TI F Co l l e c t i o n s Le s s De v e l o p e r L e s s De v e l o p e r N e t Pr o j e c t e d T o t a l Projected G r o s s G r o s s Gr o s s Sp r i n g (A p p e a l s ) N e t Sp r i n g P a s s Th r o u g h N e t Sp r i n g P r o j e c t e d Fa l l P a s s Th r o u g h F a l l Di s b u r s e m e n t 2 0 1 5 Distribution P e r c e n t a g e D o l l a r s Ar e a Sp r i n g Fa l l To t a l Di s t r i b u t i o n TI F Re f u n d s Di s t r i b u t i o n an d Pa r k w o o d Di s t r i b u t i o n Di s b u r s e m e n t * * an d Pa r k w o o d Re m a i n i n g Net Parkwood Variance Variance 11 6 t h St . Ce n t r e $ 1 2 9 , 4 9 7 . 8 4 $ 1 2 9 , 4 9 7 . 8 4 $ 2 5 8 , 9 9 5 . 6 7 $ 1 2 9 , 4 9 7 . 8 4 $ 0 . 0 0 $ 1 2 9 , 4 9 7 . 8 4 ( $ 1 6 , 3 2 0 . 5 7 ) $ 1 1 3 , 1 7 7 . 2 7 $ 1 2 9 , 4 9 7 . 8 3 ( $ 9 2 , 1 7 7 . 7 1 ) $ 3 7 , 3 2 0 . 1 2 $ 1 5 0 , 497.39 5 0 % $ 1 2 9 , 4 9 7 . 8 3 Am e n d e d Il l i n o i s St r e e t 8 1 , 4 2 6 . 4 7 8 1 , 4 2 6 . 4 7 1 6 2 , 8 5 2 . 9 4 7 3 , 1 7 2 . 4 1 0 . 0 0 7 3 , 1 7 2 . 4 1 0 . 0 0 7 3 , 1 7 2 . 4 1 8 9 , 6 8 0 . 5 3 0 . 0 0 8 9 , 6 8 0 . 5 3 1 6 2 , 8 5 2 . 9 4 4 5 % 8 9 , 6 8 0 . 5 3 Am e n d e d 12 6 t h St r e e t 3 , 8 2 7 , 5 1 9 . 5 2 3 , 8 2 7 , 5 1 9 . 5 2 7 , 6 5 5 , 0 3 9 . 0 4 4 , 0 0 7 , 6 3 5 . 1 1 ( 2 1 0 , 1 3 7 . 3 8 ) 3 , 7 9 7 , 4 9 7 . 7 3 0 . 0 0 3 , 7 9 7 , 4 9 7 . 7 3 3 , 6 4 7 , 4 0 3 . 9 3 0 . 0 0 3 , 6 4 7 , 4 0 3 . 9 3 7 , 4 4 4 ,901.66 5 2 % 3 , 6 4 7 , 4 0 3 . 9 3 Ar t s Di s t r i c t Lo f t s an d Sh o p p e s 4 2 3 , 1 4 9 . 8 0 4 2 3 , 1 4 9 . 8 0 8 4 6 , 2 9 9 . 5 9 4 2 3 , 1 4 9 . 8 0 0 . 0 0 4 2 3 , 1 4 9 . 8 0 ( 4 2 3 , 1 4 9 . 8 0 ) 0 . 0 0 4 2 3 , 1 4 9 . 7 9 ( 4 2 3 , 1 4 9 . 7 9 ) 0 . 0 0 0 . 0 0 5 0 % 4 2 3 , 1 4 9 . 7 9 Ci t y Ce n t e r 4 1 0 , 8 7 1 . 6 7 4 1 0 , 8 7 1 . 6 7 8 2 1 , 7 4 3 . 3 4 4 2 3 , 6 0 4 . 6 8 0 . 0 0 4 2 3 , 6 0 4 . 6 8 0 . 0 0 4 2 3 , 6 0 4 . 6 8 3 9 8 , 1 3 8 . 6 6 0 . 0 0 3 9 8 , 1 3 8 . 6 6 8 2 1 , 7 4 3 . 3 4 5 2 % 3 9 8 , 1 3 8 . 6 6 Do w n t o w n ED A #1 4 1 3 , 3 2 6 . 9 1 4 1 3 , 3 2 6 . 9 1 8 2 6 , 6 5 3 . 8 1 4 2 0 , 4 1 1 . 3 7 0 . 0 0 4 2 0 , 4 1 1 . 3 7 0 . 0 0 4 2 0 , 4 1 1 . 3 7 4 0 6 , 2 4 2 . 4 4 0 . 0 0 4 0 6 , 2 4 2 . 4 4 8 2 6 , 6 5 3 . 8 1 5 1 % 4 0 6 , 2 4 2 . 4 4 Do w n t o w n ED A #2 5 9 , 9 4 2 . 1 3 5 9 , 9 4 2 . 1 3 1 1 9 , 8 8 4 . 2 6 5 9 , 9 4 2 . 1 3 0 . 0 0 5 9 , 9 4 2 . 1 3 0 . 0 0 5 9 , 9 4 2 . 1 3 5 9 , 9 4 2 . 1 3 0 . 0 0 5 9 , 9 4 2 . 1 3 1 1 9 , 8 8 4 . 2 6 5 0 % 5 9 , 9 4 2 . 1 3 Ca r m e l Dr i v e 7 1 , 2 5 8 . 2 0 7 1 , 2 5 8 . 2 0 1 4 2 , 5 1 6 . 3 9 7 9 , 9 7 6 . 7 3 0 . 0 0 7 9 , 9 7 6 . 7 3 0 . 0 0 7 9 , 9 7 6 . 7 3 6 2 , 5 3 9 . 6 6 0 . 0 0 6 2 , 5 3 9 . 6 6 1 4 2 , 5 1 6 . 3 9 5 6 % 6 2 , 5 3 9 . 6 6 Me r c h a n t s Sq u a r e 1 9 7 , 3 3 9 . 0 0 1 9 7 , 3 3 9 . 0 0 3 9 4 , 6 7 8 . 0 0 2 9 0 , 4 3 1 . 6 6 0 . 0 0 2 9 0 , 4 3 1 . 6 6 0 . 0 0 2 9 0 , 4 3 1 . 6 6 1 0 4 , 2 4 6 . 3 4 0 . 0 0 1 0 4 , 2 4 6 . 3 4 3 9 4 , 6 7 8 . 0 0 7 4 % 1 0 4 , 2 4 6 . 3 4 CR C Pa r c e l 12 8 7 , 8 4 7 . 4 0 8 7 , 8 4 7 . 4 0 1 7 5 , 6 9 4 . 8 0 8 7 , 8 4 7 . 4 0 0 . 0 0 8 7 , 8 4 7 . 4 0 0 . 0 0 8 7 , 8 4 7 . 4 0 8 7 , 8 4 7 . 4 0 0 . 0 0 8 7 , 8 4 7 . 4 0 1 7 5 , 6 9 4 . 8 0 5 0 % 8 7 , 8 4 7 . 4 0 Gr a m e r c y 4 . 0 4 4 . 0 4 8 . 0 8 4 . 0 4 0 . 0 0 4 . 0 4 ( 4 . 0 4 ) 0 . 0 0 4 . 0 4 ( 4 . 0 4 ) 0 . 0 0 0 . 0 0 5 0 % 4 . 0 4 Ha z e l De l l No r t h 1 4 1 , 8 9 3 . 6 5 1 4 1 , 8 9 3 . 6 5 2 8 3 , 7 8 7 . 2 9 1 4 6 , 6 6 4 . 4 4 0 . 0 0 1 4 6 , 6 6 4 . 4 4 0 . 0 0 1 4 6 , 6 6 4 . 4 4 1 3 7 , 1 2 2 . 8 5 0 . 0 0 1 3 7 , 1 2 2 . 8 5 2 8 3 , 7 8 7 . 2 9 5 2 % 1 3 7 , 1 2 2 . 8 5 Ha z e l De l l So u t h 4 8 6 , 4 8 3 . 9 2 4 8 6 , 4 8 3 . 9 2 9 7 2 , 9 6 7 . 8 3 5 6 9 , 7 4 6 . 9 0 0 . 0 0 5 6 9 , 7 4 6 . 9 0 0 . 0 0 5 6 9 , 7 4 6 . 9 0 4 0 3 , 2 2 0 . 9 3 0 . 0 0 4 0 3 , 2 2 0 . 9 3 9 7 2 , 9 6 7 . 8 3 5 9 % 4 0 3 , 2 2 0 . 9 3 La u t h ‐Wa l k e r 3 0 8 , 2 0 8 . 7 2 3 0 8 , 2 0 8 . 7 2 6 1 6 , 4 1 7 . 4 3 3 0 8 , 2 0 8 . 7 1 0 . 0 0 3 0 8 , 2 0 8 . 7 1 0 . 0 0 3 0 8 , 2 0 8 . 7 1 3 0 8 , 2 0 8 . 7 2 0 . 0 0 3 0 8 , 2 0 8 . 7 2 6 1 6 , 4 1 7 . 4 3 5 0 % 3 0 8 , 2 0 8 . 7 2 Le g a c y 2 0 5 , 9 9 9 . 9 1 2 0 5 , 9 9 9 . 9 1 4 1 1 , 9 9 9 . 8 2 2 0 7 , 8 1 1 . 5 1 0 . 0 0 2 0 7 , 8 1 1 . 5 1 ( 2 0 7 , 8 1 1 . 5 1 ) 0 . 0 0 2 0 4 , 1 8 8 . 3 1 ( 2 0 4 , 1 8 8 . 3 1 ) 0 . 0 0 0 . 0 0 5 0 % 2 0 4 , 1 8 8 . 3 1 Lu r i e 5 , 2 3 9 . 0 7 5 , 2 3 9 . 0 7 1 0 , 4 7 8 . 1 3 5 , 2 3 9 . 0 7 0 . 0 0 5 , 2 3 9 . 0 7 0 . 0 0 5 , 2 3 9 . 0 7 5 , 2 3 9 . 0 6 0 . 0 0 5 , 2 3 9 . 0 6 1 0 , 4 7 8 . 1 3 5 0 % 5 , 2 3 9 . 0 6 Me r c h a n t s Po i n t e 1 1 1 , 7 0 9 . 0 5 1 1 1 , 7 0 9 . 0 5 2 2 3 , 4 1 8 . 0 9 1 1 9 , 5 6 2 . 3 1 0 . 0 0 1 1 9 , 5 6 2 . 3 1 0 . 0 0 1 1 9 , 5 6 2 . 3 1 1 0 3 , 8 5 5 . 7 8 0 . 0 0 1 0 3 , 8 5 5 . 7 8 2 2 3 , 4 1 8 . 0 9 5 4 % 1 0 3 , 8 5 5 . 7 8 Me r i d i a n & Ma i n 7 0 , 2 3 3 . 5 6 7 0 , 2 3 3 . 5 6 1 4 0 , 4 6 7 . 1 1 7 0 , 2 3 3 . 5 5 0 . 0 0 7 0 , 2 3 3 . 5 5 ( 3 5 , 1 1 6 . 7 8 ) 3 5 , 1 1 6 . 7 8 7 0 , 2 3 3 . 5 6 ( 3 7 , 4 2 1 . 9 9 ) 3 2 , 8 1 1 . 5 7 6 7 , 9 2 8 . 3 5 5 0 % 7 0 , 2 3 3 . 5 6 MI S O PP TI F 1 4 , 1 7 5 . 3 7 1 4 , 1 7 5 . 3 7 2 8 , 3 5 0 . 7 3 1 4 , 1 7 5 . 3 6 0 . 0 0 1 4 , 1 7 5 . 3 6 0 . 0 0 1 4 , 1 7 5 . 3 6 1 4 , 1 7 5 . 3 7 0 . 0 0 1 4 , 1 7 5 . 3 7 2 8 , 3 5 0 . 7 3 5 0 % 1 4 , 1 7 5 . 3 7 Na t i o n a l Ci t y TT A 1 , 6 9 1 . 5 4 1 , 6 9 1 . 5 4 3 , 3 8 3 . 0 8 1 , 6 9 1 . 5 3 0 . 0 0 1 , 6 9 1 . 5 3 0 . 0 0 1 , 6 9 1 . 5 3 1 , 6 9 1 . 5 5 0 . 0 0 1 , 6 9 1 . 5 5 3 , 3 8 3 . 0 8 5 0 % 1 , 6 9 1 . 5 5 No r t h Il l i n o i s St r e e t 1 , 9 1 3 , 5 5 7 . 6 0 1 , 9 1 3 , 5 5 7 . 6 0 3 , 8 2 7 , 1 1 5 . 2 0 1 , 9 5 1 , 4 6 5 . 1 6 ( 2 0 0 . 5 5 ) 1 , 9 5 1 , 2 6 4 . 6 1 0 . 0 0 1 , 9 5 1 , 2 6 4 . 6 1 1 , 8 7 5 , 6 5 0 . 0 4 0 . 0 0 1 , 8 7 5 , 6 5 0 . 0 4 3 , 8 2 6 , 9 1 4 .65 5 1 % 1 , 8 7 5 , 6 5 0 . 0 4 Ol d Me r i d i a n 2 7 1 , 5 7 3 . 6 9 2 7 1 , 5 7 3 . 6 9 5 4 3 , 1 4 7 . 3 8 2 8 0 , 4 9 6 . 5 1 0 . 0 0 2 8 0 , 4 9 6 . 5 1 0 . 0 0 2 8 0 , 4 9 6 . 5 1 2 6 2 , 6 5 0 . 8 7 0 . 0 0 2 6 2 , 6 5 0 . 8 7 5 4 3 , 1 4 7 . 3 8 5 2 % 2 6 2 , 6 5 0 . 8 7 Ol d Me t h o d i s t 5 6 6 . 7 1 5 6 6 . 7 1 1 , 1 3 3 . 4 1 5 6 6 . 7 0 0 . 0 0 5 6 6 . 7 0 0 . 0 0 5 6 6 . 7 0 5 6 6 . 7 1 0 . 0 0 5 6 6 . 7 1 1 , 1 3 3 . 4 1 5 0 % 5 6 6 . 7 1 Ol d To w n 1 0 6 , 0 9 8 . 6 4 1 0 6 , 0 9 8 . 6 4 2 1 2 , 1 9 7 . 2 7 1 0 6 , 0 9 8 . 6 4 0 . 0 0 1 0 6 , 0 9 8 . 6 4 0 . 0 0 1 0 6 , 0 9 8 . 6 4 1 0 6 , 0 9 8 . 6 3 0 . 0 0 1 0 6 , 0 9 8 . 6 3 2 1 2 , 1 9 7 . 2 7 5 0 % 1 0 6 , 0 9 8 . 6 3 Ol d To w n Sh o p p e s 4 4 , 6 9 6 . 5 4 4 4 , 6 9 6 . 5 4 8 9 , 3 9 3 . 0 7 4 0 , 2 6 4 . 5 5 0 . 0 0 4 0 , 2 6 4 . 5 5 0 . 0 0 4 0 , 2 6 4 . 5 5 4 9 , 1 2 8 . 5 2 0 . 0 0 4 9 , 1 2 8 . 5 2 8 9 , 3 9 3 . 0 7 4 5 % 4 9 , 1 2 8 . 5 2 Pa r k w o o d Cr o s s i n g 6 8 7 , 9 7 4 . 3 8 6 8 7 , 9 7 4 . 3 8 1 , 3 7 5 , 9 4 8 . 7 6 6 8 8 , 7 8 2 . 4 1 0 . 0 0 6 8 8 , 7 8 2 . 4 1 ( 6 8 8 , 7 8 2 . 4 1 ) 0 . 0 0 6 8 7 , 1 6 6 . 3 5 ( 6 8 7 , 1 6 6 . 3 5 ) 0 . 0 0 0 . 0 0 5 0 % 6 8 7 , 1 6 6 . 3 5 Pa r k w o o d Ea s t 4 1 1 , 2 7 7 . 9 6 4 1 1 , 2 7 7 . 9 6 8 2 2 , 5 5 5 . 9 1 4 1 1 , 2 7 7 . 9 5 0 . 0 0 4 1 1 , 2 7 7 . 9 5 ( 4 1 1 , 2 7 7 . 9 5 ) 0 . 0 0 4 1 1 , 2 7 7 . 9 6 ( 4 1 1 , 2 7 7 . 9 6 ) 0 . 0 0 0 . 0 0 5 0 % 4 1 1 , 2 7 7 . 9 6 We s t Cl a y * * * 2 6 8 , 8 9 1 . 1 9 26 8 , 8 9 1 . 1 9 53 7 , 7 8 2 . 3 8 28 9 , 6 0 7 . 9 6 0. 0 0 28 9 , 6 0 7 . 9 6 0. 0 0 28 9 , 6 0 7 . 9 6 24 8 , 1 7 4 . 4 2 0. 0 0 24 8 , 1 7 4 . 4 2 537,782.38 54%248,174.42 $1 0 , 7 5 2 , 4 5 4 . 4 1 $1 0 , 7 5 2 , 4 5 4 . 4 1 $2 1 , 5 0 4 , 9 0 8 . 8 1 $1 1 , 2 0 7 , 5 6 6 . 4 3 ($ 2 1 0 , 3 3 7 . 9 3 ) $1 0 , 9 9 7 , 2 2 8 . 5 0 ($ 1 , 7 8 2 , 4 6 3 . 0 6 ) $9 , 2 1 4 , 7 6 5 . 4 5 $1 0 , 2 9 7 , 3 4 2 . 3 8 ($ 1 , 8 5 5 , 3 8 6 . 1 5 ) $8 , 4 4 1 , 9 5 6 . 2 3 $17,656,721.68 52.12%$10,297,342.38 Re f e r e n c e A B CD E F G H I J K L M N Ca l c u l a t i o n A + B D+ E F+ G C ‐D I+ J H+K D/C C ‐D Co u n t y Es t i m a t e s * *C o u n t y Es t i m a t e s ar e pe r th e Ha m i l t o n Co u n t y 20 1 4 Pa y 20 1 5 TI F Bi l l i n g Re p o r t . Th e to t a l am o u n t re p r e s e n t s th e to t a l ac t u a l pr o p e r t y ta x e s bi l l e d in ea c h TI F Ar e a . Th e sp r i n g an d fa l l es t i m a t e s ar e on e ‐ha l f of th e to t a l pr o p e r t y ta x bi l l e d in th a t TI F Ar e a . Th e es t i m a t e shown is net of the es t i m a t e d sc h o o l re f e r e n d u m im p a c t . ** To t a l di s t r i b u t i o n re m a i n i n g is ba s e d up o n 10 0 % co l l e c t i o n s , ne t of th e es t i m a t e d re f e r e n d u m , an d do e s no t ta k e ap p e a l s (F a l l 20 1 5 ) in t o ac c o u n t A ‐1 Ca r m e l Re d e v e l o p m e n t Co m m i s s i o n An a l y s i s of Ju n e 20 1 5 TI F Co l l e c t i o n s an d Di s b u r s e m e n t s Re f e r e n c e A B C D E F G H I J K Reference 1 De c e m b e r 20 1 4 J u n e 20 1 5 D e v e l o p e r P a r k w o o d Tr a n s f e r B o n d / L e a s e R e f u n d i n g PAC 1 2 Ar e a Di s t r i b u t i o n Di s t r i b u t i o n Pa y m e n t s to Re s e r v e Pa y m e n t s (1 ) Su b t o t a l CO P S C (2 ) Bo n d s (3 ) Lease (4)Remaining (5)2 3 11 6 t h St . Ce n t r e 13 3 , 0 9 9 . 2 7 $ 1 2 9 , 4 9 7 . 8 4 ($ 1 6 , 3 2 0 . 5 7 ) $1 1 3 , 1 7 7 . 2 7 ($ 8 , 9 2 8 . 5 0 ) ( $ 6 5 , 1 8 5 . 6 1 ) ( $ 3 6 , 9 9 7 . 4 2 ) $2,065.74 3 4 Am e n d e d Il l i n o i s St r e e t 7 7 , 5 6 2 . 5 5 7 3 , 1 7 2 . 4 1 7 3 , 1 7 2 . 4 1 (5 , 7 7 2 . 5 4 ) ( 4 2 , 1 4 4 . 4 0 ) ( 2 3 , 9 1 9 . 9 1 ) $1,335.56 4 5 Am e n d e d 12 6 t h St r e e t 3, 9 9 1 , 8 0 3 . 9 2 3 , 7 9 7 , 4 9 7 . 7 3 3 , 7 9 7 , 4 9 7 . 7 3 (2 9 9 , 5 8 2 . 7 1 ) ( 2 , 1 8 7 , 2 0 7 . 9 5 ) ( 1 , 2 4 1 , 3 9 4 . 2 3 ) 69,312.84 5 6 Ar t s Di s t r i c t Lo f t s an d Sh o p p e s 4 3 3 , 3 9 2 . 5 8 4 2 3 , 1 4 9 . 8 0 ($ 4 2 3 , 1 4 9 . 8 0 ) 0. 0 0 0. 0 0 0 . 0 0 0 . 0 0 0.00 6 7 Ci t y Ce n t e r 44 6 , 1 0 9 . 3 4 4 2 3 , 6 0 4 . 6 8 4 2 3 , 6 0 4 . 6 8 (3 3 , 4 1 7 . 9 6 ) ( 2 4 3 , 9 7 9 . 4 8 ) ( 1 3 8 , 4 7 5 . 5 0 ) 7,731.73 7 8 Do w n t o w n ED A #1 4 5 5 , 9 4 0 . 3 5 4 2 0 , 4 1 1 . 3 7 42 0 , 4 1 1 . 3 7 (3 3 , 1 6 6 . 0 4 ) ( 2 4 2 , 1 4 0 . 2 6 ) ( 1 3 7 , 4 3 1 . 6 2 ) 7,673.45 8 9 Do w n t o w n ED A #2 6 1 , 5 5 3 . 2 8 5 9 , 9 4 2 . 1 3 59 , 9 4 2 . 1 3 (4 , 7 2 8 . 8 0 ) ( 3 4 , 5 2 4 . 2 9 ) ( 1 9 , 5 9 4 . 9 6 ) 1,094.08 9 10 Ca r m e l Dr i v e 4 3 , 7 9 6 . 3 3 7 9 , 9 7 6 . 7 3 7 9 , 9 7 6 . 7 3 (6 , 3 0 9 . 3 2 ) ( 4 6 , 0 6 3 . 4 2 ) ( 2 6 , 1 4 4 . 2 3 ) 1,459.75 10 11 Me r c h a n t s Sq u a r e 7 8 , 6 0 7 . 6 7 2 9 0 , 4 3 1 . 6 6 2 9 0 , 4 3 1 . 6 6 (2 2 , 9 1 2 . 0 1 ) ( 1 6 7 , 2 7 7 . 1 1 ) ( 9 4 , 9 4 1 . 5 1 ) 5,301.03 11 12 CR C Pa r c e l 12 8 9 , 5 4 7 . 3 6 8 7 , 8 4 7 . 4 0 87 , 8 4 7 . 4 0 (6 , 9 3 0 . 2 4 ) ( 5 0 , 5 9 6 . 6 2 ) ( 2 8 , 7 1 7 . 1 4 ) 1,603.41 12 13 Gr a m e r c y 4 . 1 6 4 . 0 4 (4 . 0 4 ) 0. 0 0 0. 0 0 0 . 0 0 0 . 0 0 0.00 13 14 Ha z e l De l l No r t h 1 4 1 , 6 0 5 . 1 3 1 4 6 , 6 6 4 . 4 4 1 4 6 , 6 6 4 . 4 4 (1 1 , 5 7 0 . 2 8 ) ( 8 4 , 4 7 2 . 9 0 ) ( 4 7 , 9 4 4 . 3 1 ) 2,676.95 14 15 Ha z e l De l l So u t h 3 4 7 , 9 8 0 . 1 5 5 6 9 , 7 4 6 . 9 0 5 6 9 , 7 4 6 . 9 0 (4 4 , 9 4 7 . 0 5 ) ( 3 2 8 , 1 5 1 . 6 0 ) ( 1 8 6 , 2 4 9 . 1 0 ) 10,399.16 15 16 La u t h ‐Wa l k e r 31 6 , 9 6 2 . 5 7 3 0 8 , 2 0 8 . 7 1 3 0 8 , 2 0 8 . 7 1 (2 4 , 3 1 4 . 4 3 ) ( 1 7 7 , 5 1 5 . 9 8 ) ( 1 0 0 , 7 5 2 . 8 0 ) 5,625.50 16 17 Le g a c y 2 1 1 , 6 2 5 . 2 6 2 0 7 , 8 1 1 . 5 1 (2 0 7 , 8 1 1 . 5 1 ) 0. 0 0 0. 0 0 0 . 0 0 0 . 0 0 0.00 17 18 Lu r i e 5 , 5 6 9 . 6 4 5 , 2 3 9 . 0 7 5 , 2 3 9 . 0 7 (4 1 3 . 3 1 ) ( 3 , 0 1 7 . 5 0 ) ( 1 , 7 1 2 . 6 4 ) 95.62 18 19 Me r c h a n t s Po i n t e 9 3 , 5 7 0 . 5 3 1 1 9 , 5 6 2 . 3 1 1 1 9 , 5 6 2 . 3 1 (9 , 4 3 2 . 2 1 ) ( 6 8 , 8 6 3 . 1 4 ) ( 3 9 , 0 8 4 . 6 7 ) 2,182.28 19 20 Me r i d i a n & Ma i n 74 , 8 5 6 . 5 8 7 0 , 2 3 3 . 5 5 (3 5 , 1 1 6 . 7 8 ) 35 , 1 1 6 . 7 8 (2 , 7 7 0 . 3 4 ) ( 2 0 , 2 2 5 . 8 7 ) ( 1 1 , 4 7 9 . 6 0 ) 640.96 20 21 MI S O PP TI F 1 6 , 7 4 0 . 0 1 1 4 , 1 7 5 . 3 6 1 4 , 1 7 5 . 3 6 (1 , 1 1 8 . 2 9 ) ( 8 , 1 6 4 . 4 4 ) ( 4 , 6 3 3 . 9 0 ) 258.73 21 22 Na t i o n a l Ci t y TT A 1 , 7 3 7 . 4 3 1 , 6 9 1 . 5 3 1 , 6 9 1 . 5 3 (1 3 3 . 4 4 ) ( 9 7 4 . 2 5 ) ( 5 5 2 . 9 6 ) 30.87 22 23 No r t h Il l i n o i s St r e e t 1 , 8 2 9 , 5 0 8 . 7 9 1 , 9 5 1 , 2 6 4 . 6 1 (5 6 8 , 3 3 6 . 2 5 ) 1, 3 8 2 , 9 2 8 . 3 6 (1 0 9 , 0 9 8 . 5 3 ) ( 7 9 6 , 5 1 1 . 8 4 ) ( 4 5 2 , 0 7 6 . 4 5 ) 25,241.54 23 24 Ol d Me r i d i a n 2 8 9 , 6 9 9 . 6 0 2 8 0 , 4 9 6 . 5 1 2 8 0 , 4 9 6 . 5 1 (2 2 , 1 2 8 . 2 3 ) ( 1 6 1 , 5 5 4 . 8 6 ) ( 9 1 , 6 9 3 . 7 3 ) 5,119.69 24 25 Ol d Me t h o d i s t 5 7 9 . 3 0 5 6 6 . 7 0 5 6 6 . 7 0 (4 4 . 7 1 ) ( 3 2 6 . 4 0 ) ( 1 8 5 . 2 5 ) 10.34 25 26 Ol d To w n 1 0 9 , 0 6 0 . 9 3 1 0 6 , 0 9 8 . 6 4 1 0 6 , 0 9 8 . 6 4 (8 , 3 7 0 . 0 7 ) ( 6 1 , 1 0 8 . 6 1 ) ( 3 4 , 6 8 3 . 4 3 ) 1,936.54 26 27 Ol d To w n Sh o p p e s 3 8 , 4 6 4 . 2 2 4 0 , 2 6 4 . 5 5 4 0 , 2 6 4 . 5 5 (3 , 1 7 6 . 4 5 ) ( 2 3 , 1 9 0 . 7 8 ) ( 1 3 , 1 6 2 . 4 0 ) 734.92 27 28 Pa r k w o o d Cr o s s i n g 6 8 1 , 9 6 6 . 4 2 6 8 8 , 7 8 2 . 4 1 (6 8 8 , 7 8 2 . 4 1 ) 0. 0 0 0. 0 0 0 . 0 0 0 . 0 0 0.00 28 29 Pa r k w o o d Ea s t 4 2 2 , 3 3 2 . 5 2 4 1 1 , 2 7 7 . 9 5 (4 1 1 , 2 7 7 . 9 5 ) 0. 0 0 0. 0 0 0 . 0 0 0 . 0 0 0.00 29 30 We s t Cl a y 48 6 , 4 5 9 . 7 7 2 8 9 , 6 0 7 . 9 6 28 9 , 6 0 7 . 9 6 (2 2 , 8 4 7 . 0 3 ) ( 1 6 6 , 8 0 2 . 6 9 ) ( 9 4 , 6 7 2 . 2 5 ) 5,285.99 30 31 To t a l s $ 1 0 , 8 8 0 , 1 3 5 . 6 6 $1 0 , 9 9 7 , 2 2 8 . 5 0 (6 8 2 , 4 0 2 . 7 0 ) (1 , 1 0 0 , 0 6 0 . 3 6 ) (5 6 8 , 3 3 6 . 2 5 ) $8 , 6 4 6 , 4 2 9 . 2 0 ($ 6 8 2 , 1 1 2 . 5 0 ) ($ 4 , 9 8 0 , 0 0 0 . 0 0 ) ($2,826,500.00)$157,816.70 31 32 AB C 32 33 33 34 34 35 35 36 CO P S C (A ) / S u b t o t a l 1 2 . 6 8 36 37 CO P S C an d 20 1 2 Re f u n d i n g Bo n d s (A an d B) / S u b t o t a l 1 . 5 3 37 38 CO P S C, 20 1 2 Re f u n d i n g , PA C Bo n d s (A , B , C ) / S u b t o t a l 1 . 0 2 38 39 (2 ) Se m i an n u a l bo n d pa y m e n t $6 8 2 , 1 1 3 to be pa i d on 7/ 1 4 / 1 5 fo r th e Ce r t i f i c a t e s of Pa r t i c i p a t i o n , Se r i e s 20 1 0 C 39 40 40 41 (3 ) Se m i an n u a l bo n d pa y m e n t $4 , 9 8 0 , 0 0 0 to be pa i d on 7/ 1 4 / 1 5 fo r th e Le a s e Re n t a l Re v e n u e Mu l t i p u r p o s e Bo n d s , Se r i e s 20 1 2 A & B 41 42 42 43 (4 ) Se m i An n u a l le a s e pa y m e n t $2 , 8 2 6 , 5 0 0 to be pa i d on 6/ 3 0 / 1 5 fo r th e Le a s e Re n t a l Re v e n u e Bo n d s of 20 1 4 (P e r f o r m i n g Ar t s Ce n t e r ) 43 44 44 45 (5 ) Th e le s s e r of th i s to t a l or $2 0 1 , 0 2 1 . 8 7 wi l l be tr a n s f e r r e d to th e Su p p l e m e n t a l Re s e r v e Fu n d as pe r th e Re v e n u e De p o s i t Ag r e e m e n t 45 46 46 47 No t e : Th i s re v i s e d la y o u t re f l e c t s th e fl o w of TI F re c e i v e d as pe r th e Re v e n u e De p o s i t Ag r e e m e n t . 47 48 48 49 49 50 50 51 51 52 52 53 53 (1 ) Se m i an n u a l bo n d pa y m e n t s $4 5 8 , 3 2 4 an d $1 1 0 , 0 1 2 . 5 to be pa i d in Ju n e 20 1 5 fo r th e Ta x In c r e m e n t Re v e n u e Bo n d s of 20 0 4 A (C l a r i a n Ho s p i t a l ‐ Il l i n o i s St r e e t Pr o j e c t ) an d Re d e v e l o p m e n t Di s t r i c t Bo n d s of 20 1 3 (I l l i n o i s St r e e t Pr o j e c t ) De b t Se r v i c e Co v e r a g e A ‐2